I want to purchase a 10 unit apartment complex to wholesale, just thinking WHAT'S AN  ATTRACTIVE CAP RATE FOR INVESTORS?

Like others have mentioned area is already attracting a bunch of companies from many different industry sectors.

The idea is promising and I would suggest an area where growth is happening or attractive to the military population.  

Building constructed in 1980Present loan value appx $77k on a 15 yr note with 3.375% interestP&I pmt is appx $602NOI 2014 was $11489NOI 2013 was $5142      (spent around $4k on updates/remodeling)Appx $27k by my calculations of capital improvements needed in the next 5-10 years to increase the value of the property, properly maintain it, and keep it functionally up to date in order to attract higher quality tenants (located in a b grade area) (I'd rather have more invested to have higher quality tenants - have my own reasons for this line of thinking - willing to sacrifice a bit of profit to have good people)- Redo Kitchens- replace doors and all base trim/casing (more for my taste and would help the place rent out even quicker)- 2 escape windows installed for basement bedrooms- Concrete work needed on patios and near front of the house -- need to be done in the next yearProperty based on comps in the immediate area and a tight supply of decent duplexes here is $175-210k or so.  

Commercial properties are worth the amount of income it produces that's why you must see real numbers in order to make an informed decision. 

I know a few things about analyzing a commercial property value by the income it produces.

For example, if the deal is really weak you'll have to delete tiers and slide up the splits to deliver an attractive return.Your experience and investor relationships will also drive your decision on the structure.

A buyer can then assume the loan later after rates have risen and you'll make your property more attractive Vs competing properties in a higher interest rate environment.Create a short term and long term business plan for these assets and this should help guide your decision on which way to lean in financing the acquisition.

The least amount possible to attract another buyer. 

With a little bit of programming magic, our very own @Edd Morgan has produced yet another invaluable tool for real estate investors everywhere.This one pertains to our keyword alerts.